California Cops Sting Alleged "Real Estate Deposit" Scammer

In Pleasanton, California, the Contra Costa Times reports:

• "Police are looking for more victims of a scam after a 62-year-old man was arrested Wednesday on suspicion of trying to bilk a real estate broker out of $10,000. According to Pleasanton police, Roger Dungan Buack of Hayward approached broker Dave Cunningham under the guise of being interested in buying a home. [...] Buack told Cunningham that he had a large amount of money in England that he couldn't access without a clearance from the Department of Homeland Security. He said that to meet regulations he would have to pay $10,000, which he wanted to borrow from Cunningham, who would be reimbursed twice that amount once the money arrived. [...] He [Cunningham] grew suspicious and contacted Pleasanton police. Cunningham agreed to complete the transaction at his office, along with police investigators waiting out of sight. Buack gave Cunningham a fake promissory note and a lien on a property he didn't own. Police took Buack into custody as he left the building."

• "Buack was booked on suspicion of burglary, three counts of making false financial statements and one count of using a fictitious business address."

For more, see Man, 62, arrested in real estate scheme (Pleasanton: Broker grew suspicious after suspect asked him for $10,000 to complete transaction).

See also, Hayward scam suspect arrested (Suspicious real estate agent alerted police).

For story update, see:

Couple accused in scams to face more charges (Pleasanton: Hayward pair are accused of taking hundreds of thousands of dollars) -

• "Additional grand theft charges have been filed against a Hayward man in connection with what authorities say is a real estate scam. Another real estate agent has come forward as a possible victim of 63-year-old Roger Buack, who is accused of running a "Nigerian scheme" to bilk agents out of hundreds of thousands of dollars."

Hayward couple accept plea deal (Pair accused of bilking real estate agents of more than $150,000) -

• "Citing a lack of money to make bail, a Hayward married couple accused of bilking Bay Area real estate agents of more than $150,000 accepted plea deals from prosecutors Friday [10-5-07]."